Bloomberg said Swedish inflation unexpectedly held last month amid falling interest rates as an expansion in the largest Nordic economy shows signs of stalling.

“The inflation rate is low and will stay low for a long time,” Per Sellden, an analyst at Swedbank, told the newswire. The central bank will cut its main lending rate to 1 percent next month because of “weak growth and a clearly weakening labor market,” he said.

Sweden’s annual inflation remained unchanged in October, data released by Statistics Sweden showed. Consumer prices increased 0.4 percent year-on-year, unchanged from the growth seen in September.

The country’s Riksbank last month signaled it was prepared to cut the repo rate again in December to support growth as Europe’s debt crisis hurts exports and pushes up unemployment.